Sensibill x Loyalty Co
Case Study
About
Loyalty Co is a North American loyalty platform that offers a free app connecting consumer packaged goods (CPG) companies with consumers.
The platform eliminates the hassle of clipping coupons for consumers while providing direct engagement opportunities to its clients. Consumers are incentivized to upload receipts to the app with monetary rewards, which in turn delivers deeper data to the CPG companies, allowing them to better know and understand their customers. Through these insights, Loyalty Co’s clients can more effectively engage with target demographics while providing value to consumers for campaign participation. This ultimately drives customer satisfaction and loyalty while creating new revenue opportunities.
Challenge
Since its launch in 2018, Loyalty Co has experienced substantial growth in both its user base and merchant campaigns. However, fulfilling campaign rewards required a considerable amount of time and effort; employees had to manually match submitted receipts to item-based offers, making authentication and validation cumbersome and costly.
Such a process was not only inefficient and time-intensive but was often detrimental to the customer experience. Wait times continued to grow longer, frustrating users and deterring them from becoming repeat customers. Plus, Loyalty Co. was having problems with its camera functionality, causing considerable customer churn and poor App Store ratings.
Given that 65% of Loyalty Co’s users are millennials—a generation that expects a simple, quick digital experience from every provider they interact with—something needed to change. If Loyalty Co wanted to enhance their customer experience and scale, they would need a solution that would provide reliable, seamless camera functionality while reducing the manual effort and time required to complete the reward fulfillment process, getting money back in users’ pockets more quickly.
Solution
To solve these pain points, Loyalty Co partnered with Sensibill, the leading provider of everyday financial tools and SKU-level insights, to integrate the fintech’s Receipts SDK and leverage its capture technology.
Sensibill’s solution leverages the company’s proprietary multi-brain OCR and self-learning machine learning (ML) technologies to extract and make sense of receipts, down to the SKU-level to better understand customer spend data and history then offer more targeted rewards. By rapidly automating and streamlining the transcription of receipts, Loyalty Co is deepening customer engagement and loyalty at scale.
“Without strong camera functionality, our business simply does not work. With Sensibill, we gained premier camera capture technology as well as a best-in-class customer experience. The user journey is very well designed; the entire experience is intuitive and seamless.”
– CEO of Loyalty Co.
Strategy
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Faster rewards
With Sensibill’s technology, Loyalty Co is delivering rewards to users considerably faster, strengthening customer satisfaction and loyalty. In addition to becoming faster, fulfillment has also become more accurate; the volume of receipts that require human validation has been reduced by 60%. Such efforts have increased overall operational efficiencies, nicely positioning the company for strategic growth.
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Seamless automation
In addition to implementing Receipts, Loyalty Co.’s technical team partnered directly with Sensibill for consultation around how to optimize the technology and create best practices, maximizing the value and performance of the solution. Working together, the team was able to map out a seamless process for automating validation processes. They were also able to develop bespoke matching algorithms.
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Increased efficiencies
“With Sensibill’s smart technology we have been able to match and automatically validate receipts in bulk with speed and precision. And, because the Sensibill team are proven data experts in the space, we can openly collaborate with their team to help establish processes, optimize benefits and explore how to best leverage the power of our data. We are increasing efficiencies while deepening customer engagement and loyalty,” continued the CEO.
As a result of the Sensibill partnership, Loyalty Co has been able to facilitate a faster, more seamless customer experience, ultimately leading to stronger user retention, reduced churn rates, and improved App Store ratings for iOS and Android.
The technology has lowered the cost of human intervention, allowing Loyalty Co. to dedicate those resources elsewhere. For some offers, the time and money required to validate and authenticate receipts were cut by 50%. Such operational efficiencies have allowed Loyalty Co to place a greater focus on adding users, contributing to strong growth and momentum. Sensibill has proven to be a true competitive differentiator.
With Receipts, Loyalty Co has experienced the following benefits:
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A 50% increase in volume of receipts uploaded
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The ability to process 3X more receipts than previously with the same resource capacity
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A significant growth in CPG merchant clients
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A 60% reduction in the volume of receipts that require human validation
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A 30% increase in Net Promoter Scores (NPS)
The CEO added, “The Sensibill team have been true partners, not only by providing the sophisticated technology needed to increase efficiencies and enhance customer interactions, but also by sharing their expertise and guidance along every step of the way.
We are now even working with Sensibill on new, personalization-focused projects. We recommend Sensibill to everyone who is looking to optimize performance and the customer experience when it comes to receipt management.”
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